Research

Research Interests

Risk hedging for operations; innovation-finance interface; operations-climate interface; supply chain finance.

Stochastic control and optimization.

Publications

Book Chapters

1. L. Wang, D. D. Yao (2019). Data and Risk Analytics for Production Planning. Foundations and Trends in Technology, Information and Operations Management 12 (2-3): 201-218. P. Kouvelis, L. Dong and D. Turcic (eds), NOW Publishers Inc., Boston - Delft 2019.

2. L. Wang, D.D. Yao (2017). Integrated Production Planning and Risk Hedging. Integrated Risk Management in Supply Chains: 105-127. P. Kouvelis, L. Dong and D. Turcic (eds), NOW Publishers Inc., Boston.

Journal Publications

1. L. Wang, J. Yao and X. Zhang (2023) How Does Risk Hedging Impact Operations? Insights from a Price-Setting Newsvendor Model. Forthcoming in Management Science.

2. L. Wang and D.D. Yao (2023) Production Planning with Risk Hedging Under a Conditional Value at Risk Objective. Operations Research 71(4):1055-1072.

3. L. Wang (2021) Mean–variance Hedging for Production Planning with Multiple Products. Production and Operations Management 30 (10):3497–3522. 

4. L. Wang, D. D. Yao (2019) Risk Hedging for Production Planning. Production and Operations Management 30 (6):1825-1837.

5. L. Wang, D.D. Yao (2017) Production with Risk Hedging — Optimal Policy and Efficient Frontier. Operations Research, 65(4):1095–1113.

6. L. Wang, J. Wissel (2013) Mean-variance Hedging with Oil Futures. Finance and Stochastics, 17: 641–683.

External Research Grants

1. Supply Chain Planning and Hedging: Managing Correlated Supply and Demand Risks.  Funded by Research Grants Council of Hong Kong (General Research Fund). Project number: 17200521. Award amount: HKD679,667. Project period: September 1, 2021 - February 29, 2024.

Work in Progress

1. Y. Shen, L. Wang and X. Chen  (2023) Risk Hedging in Multilocation Newsvendor Systems. Under Review.  https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4779512

2. L. Wang, S. Zhou, J. Yao and H. Duan (2024). Newsvendor’s Supplier Selection Problem with Correlated Supply and Demand Uncertainties. Working paper.

3. L. Wang and D. D.Yao  (2024). Clean-Tech Adoption and Risk Hedging. Working paper.

Journal Referee

Management Science, Operations Research, Production and Operations Management, Naval Research Logistics, Operations Research Letters, Stochastic Models.